updated 3/10/2011 7:16:46 AM ET 2011-03-10T12:16:46

MORRISVILLE, N.C., March 10, 2011 (GLOBE NEWSWIRE) -- Oxygen Biotherapeutics, Inc. (Nasdaq:OXBT) (SIX Swiss Exchange:OXBT) today announced it has entered into an agreement with independently owned and operated Comercial Uni2, S.A. de C.V. of Mexico, for the sale of DERMACYTE products. Per the terms of the agreement, Comercial Uni2 has exclusive rights to sell and distribute Oxygen Biotherapeutics' DERMACYTE® skin care products throughout Mexico.

Per the agreement, Comercial Uni2 commits to purchase a total of 10,000 units of DERMACYTE products over the next year. An escalating purchase requirement is in effect for the following four years. The agreement also includes an option for Comercial Uni2 to add Central America as a territory.

"Oxygen-based skin care treatments are at the cutting edge of today's cosmetics.  DERMACYTE skin care lotions provide a unique value proposition in a growing Mexican cosmetics market," said Felix Bautista, owner of Comercial Uni2 S.A. de C.V.  Co-owner, Luc Albert, agreed:  "DERMACYTE skin care lotions form a perfect fit under our firm's mission to distribute differentiating products in Mexico."

According to DataMonitor Research, the market for skincare in Mexico increased at a compound annual growth rate of 5.2% between 2004 and 2009. The facial care category led the skincare market in Mexico, accounting for a share of 51.3%. The National Chamber of the Perfumery, Cosmetics and Toiletries Industry of Mexico anticipates 5% growth in the cosmetics and toiletries sector for 2010, the latest number available.

"Mexico is a growing, dynamic cosmetic market and the gateway to Central America," said Chris Stern, Chairman and Chief Executive Officer of Oxygen Biotherapeutics. "We are pleased to make our product available to this important market and open up doors for opportunities to sell DERMACYTE throughout Central America."

Oxygen Biotherapeutics does not have an ownership stake in Comercial Uni2. 

About DERMACYTE Cosmetics

DERMACYTE Oxygen Concentrate is a scientifically designed, proprietary cream made to enhance oxygen delivery to skin. It is the first product in a broad and diverse cosmetic line currently under development by Oxygen Biotherapeutics. It complements DERMACYTE Oxygenating Eye Complex, which has several ingredients, such as avocado essence, soothing oat kernel, Vitamin C, sunflower oil and antioxidants that target the eye contour area. The DERMACYTE skin care line uses the Oxygen Biotherapeutics' oxycyte technology (an oxygen carrier) to deliver oxygen to tissues, such as skin.

The Dermacyte logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7792

About Oxygen Biotherapeutics, Inc.

Headquartered in Morrisville, NC, Oxygen Biotherapeutics, Inc. is developing medical and cosmetic products that efficiently deliver oxygen to tissues in the body. The company has developed a proprietary perfluorocarbon (PFC) therapeutic oxygen carrier and liquid ventilation product called Oxycyte that is being formulated for both intravenous and topical delivery. This year, the company launched its DERMACYTE® line of oxygen-rich skin care products. In addition, the company is focused on perfluorocarbon-based oxygen carriers for use in traumatic brain injury, decompression sickness, personal care, and topical wound healing. More information is available at www.oxybiomed.com or www.dermacyteus.com.

The Oxygen Biotherapeutics, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7277

Caution Regarding Forward-Looking Statements

This news release contains certain forward-looking statements by the company that involve risks and uncertainties and reflect the company's judgment as of the date of this release. These statements include the Company's ability to finalize its agreement with Comercial Uni2 for the sales and distribution of DERMACYTE products, expansion of research and development of the Company's Oxycyte® product lines, including Wundecyte, and the timing of the introduction of those new products. The forward-looking statements are subject to a number of risks and uncertainties including matters beyond the company's control that could lead to delays in new product introductions and customer acceptance of these new products, and other risks and uncertainties as described in our filings with the Securities and Exchange Commission, including in the current report on Form 10-Q filed on December 9, 2010. The company disclaims any intent or obligation to update these forward-looking statements beyond the date of this release. This caution is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.

CONTACT: Ellen Corliss
         Vice President, Corporate Communications & Investor Relations
         (919) 855-2112

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com